Cairn Energy PLC (CNE) Earns “Buy” Rating from Deutsche Bank AG
Cairn Energy PLC (LON:CNE)‘s stock had its “buy” rating reiterated by stock analysts at Deutsche Bank AG in a report issued on Friday. They presently have a GBX 240 ($3.10) target price on the oil and gas development company’s stock. Deutsche Bank AG’s target price suggests a potential upside of 37.85% from the company’s previous close.
Other analysts have also recently issued research reports about the stock. Canaccord Genuity reiterated a “buy” rating and issued a GBX 275 ($3.55) price objective on shares of Cairn Energy PLC in a research note on Friday, May 19th. Barclays PLC reiterated an “overweight” rating on shares of Cairn Energy PLC in a research note on Wednesday, August 23rd. GMP Securities reiterated a “buy” rating on shares of Cairn Energy PLC in a research note on Tuesday, July 11th. Jefferies Group LLC reiterated a “buy” rating and issued a GBX 300 ($3.87) price objective on shares of Cairn Energy PLC in a research note on Wednesday, May 17th. Finally, Macquarie dropped their price objective on shares of Cairn Energy PLC from GBX 270 ($3.49) to GBX 242 ($3.13) and set an “outperform” rating for the company in a research note on Wednesday, June 21st. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of GBX 245.10 ($3.17).
Cairn Energy PLC (LON CNE) traded down 1.86% on Friday, reaching GBX 174.10. 1,038,275 shares of the company traded hands. Cairn Energy PLC has a 52-week low of GBX 164.28 and a 52-week high of GBX 250.60. The firm’s market cap is GBX 1.00 billion. The stock has a 50-day moving average price of GBX 175.09 and a 200-day moving average price of GBX 192.15.
Cairn Energy PLC (LON:CNE) last issued its quarterly earnings data on Monday, August 21st. The oil and gas development company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.04. Cairn Energy PLC had a net margin of 2,907.41% and a return on equity of 27.85%. Analysts anticipate that Cairn Energy PLC will post $0.02 earnings per share for the current fiscal year.
Cairn Energy PLC Company Profile
Cairn Energy PLC (Cairn) is a United Kingdom-based independent oil and gas exploration and development company. The Company’s portfolio is focused on approximately three geographical regions, such as North West Europe, the Atlantic Margin and the Mediterranean. Cairn has exploration and appraisal assets in the Atlantic Margin, North West Europe and the Mediterranean, and core development assets in the North Sea.
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